Hi Traders!
The market is in a strong downtrend.
The "Multiple Sell Point", as we call it, consists of three parts:
> The nearest Resistance is there and that means that selling pressure could get in;
> the 200MA as a guide line, because the market often touches it and bounces back;
> the top of the bearish wedge, which is also a trend continuation pattern.
We recommend to sell the market at the "Sell Point" with a risk-to-reward ratio of 1 to 2.
Thanks and good luck :)!
The market is in a strong downtrend.
The "Multiple Sell Point", as we call it, consists of three parts:
> The nearest Resistance is there and that means that selling pressure could get in;
> the 200MA as a guide line, because the market often touches it and bounces back;
> the top of the bearish wedge, which is also a trend continuation pattern.
We recommend to sell the market at the "Sell Point" with a risk-to-reward ratio of 1 to 2.
Thanks and good luck :)!